Lead

South Korean prosecutors have for the second time rejected a police request for an arrest warrant for Bang Si-hyuk, chairman and founder of K-pop powerhouse HYBE, who is accused of unfair stock trading. The decision, announced on May 7, came after police refiled the request last week, following an initial rejection in April. The Seoul Southern District Prosecutors' Office stated that areas requested for further investigation had not been conducted, according to Yonhap News Agency.

Coverage Comparison

Coverage of the case has been consistent across multiple outlets, though with some differences in emphasis. Deutsche Welle focused on the police's initial action and BTS's ongoing global tour, while Yonhap's reports centered on the prosecutors' decisions and the legal procedures. All reports agree that Bang faces allegations of violating South Korea's Capital Markets Act in connection with HYBE's initial public offering (IPO) in 2019.

Key Claims

  • Prosecutors rejected arrest warrant request: Multiple Yonhap reports confirm that the Seoul Southern District Prosecutors' Office returned the warrant request to police, first on April 24 and again on May 7, citing insufficient evidence or lack of supplementary investigation.
  • Allegations of unfair stock trading: Bang Si-hyuk is accused of deceiving investors in 2019 into selling their shares in HYBE before the IPO. He allegedly misled them into believing the company had no plans to go public, prompting them to sell shares to entities linked to his associates.
  • Disputed profit figures: Reports vary on the alleged illegal profits. Yonhap reports cite figures of 260 billion won (approximately 175–179 million USD) in two articles and 200 billion won in an earlier police filing. Deutsche Welle and one Yonhap article report 190 billion won (129–130 million USD). These discrepancies appear to stem from different stages of the investigation or calculations.
  • Travel ban and U.S. Embassy request: Bang was banned from leaving South Korea in August 2025. The U.S. Embassy in Seoul reportedly sent a letter to police asking that he be allowed to travel to the United States to participate in BTS's world tour, as reported by multiple Yonhap articles and a Korea Herald piece.

Perspectives

Prosecutors' Position

The prosecution has maintained that current evidence does not justify detention. In its April statement, the Seoul Southern District Prosecutors' Office said: "At this stage, there is insufficient evidence to justify the necessity of detention, and we have therefore requested a supplementary investigation." In May, they reiterated that the request was rejected because the police had not conducted the supplementary investigation areas as requested.

Police Stance

Police have pursued the case actively, filing for the arrest warrant and refiling it after the first rejection. They stated they would review whether to reapply after further investigation, adhering to due process. The investigation began in late 2024 following a tip-off, leading to raids on the Korea Exchange and HYBE headquarters.

Bang Si-hyuk's Defense

Bang has consistently denied the allegations, asserting that the IPO followed all laws and regulations. HYBE has also expressed confidence in his compliance, while cooperating with the investigation.

International Dimension

The U.S. Embassy's request highlights the international implications of the case, as BTS's world tour relies on Bang's involvement as executive producer. The embassy's letter asked police to temporarily lift the travel ban, per a report from the Korea Herald (referenced in one Yonhap article), though this specific detail appears in only one source so far.

Corrections & Timeline

Initial reports in April mentioned a police request for an arrest warrant, followed by the first rejection. After the police refiled, the second rejection occurred in early May. Profit figures have evolved: police initially cited nearly 200 billion won, while later prosecution-related reports mention 260 billion won. Independent verification of these figures is pending.

The case is ongoing, with police expected to conduct further investigation. Legal experts note that violations involving profits over 5 billion won carry severe penalties, including life imprisonment or a minimum of five years, according to the Capital Markets Act.